Apple Earns $47 Billion in Revenue, Sells 45 Million iPhones in Three Months

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Apple today announced financial results for its fiscal 2016 fourth quarter. The company posted quarterly revenue of $46.9 billion and quarterly net income of $9 billion. These results compare to revenue of $51.5 billion and net income of $11.1 billion in the year-ago quarter.

During those three months, Apple sold 45.5 million iPhones, 9.3 million iPads, and 4.9 million Macs. Once again Apple did not reveal Watch sales—opting to roll them into “services” revenue—but we doubt they were impressive.

“Our strong September quarter results cap a very successful fiscal 2016 for Apple,” said Tim Cook, Apple’s CEO. “We’re thrilled with the customer response to iPhone 7, iPhone 7 Plus and Apple Watch Series 2, as well as the incredible momentum of our Services business, where revenue grew 24 percent to set another all-time record.”

“We are pleased to have generated $16.1 billion in operating cash flow, a new record for the September quarter,” said Luca Maestri, Apple’s CFO. “We also returned $9.3 billion to investors through dividends and share repurchases during the quarter and have now completed over $186 billion of our capital return program.”

For the holiday season, Apple expects revenue up to $78 billion.

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